SlashGear

There have been rumors floating around about a new 40GB version of the Playstation 3 coming soon. If you remember, a price scanner at Target had it pegged at a $399 price. Well, it has been officially confirmed by Sony, and we’ll also be seeing a price cut on the 80GB model.

According to Jack Tretton, president of Sony Computer Entertainment America, we can expect the new 40GB model to hit store shelves on November 2nd. The larger 80GB model will see a $100 price cut, bringing it down to $500.

We’ve already seen what happened when Sony made a similar move over in the UK, sales of the console have skyrocketed. With the holiday season fast approaching, this is the perfect opportunity for Sony to reclaim a larger portion of the market.

Sony to sell new 40GB PlayStation 3 in U.S. [via reuters]